Cetera Investment Advisers Grows Position in IonQ, Inc. (NYSE:IONQ)

Cetera Investment Advisers raised its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 7.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,417 shares of the company’s stock after purchasing an additional 2,384 shares during the quarter. Cetera Investment Advisers’ holdings in IonQ were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IONQ. Ameriprise Financial Inc. purchased a new stake in shares of IonQ in the fourth quarter worth about $29,519,000. Invesco Ltd. lifted its holdings in shares of IonQ by 439.3% in the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company’s stock worth $35,800,000 after buying an additional 698,146 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of IonQ by 475.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 688,764 shares of the company’s stock worth $28,771,000 after buying an additional 569,061 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of IonQ by 700.0% in the fourth quarter. Two Sigma Investments LP now owns 476,017 shares of the company’s stock worth $19,883,000 after buying an additional 416,517 shares in the last quarter. Finally, UNICOM Systems Inc. lifted its holdings in shares of IonQ by 77.4% in the first quarter. UNICOM Systems Inc. now owns 768,900 shares of the company’s stock worth $16,970,000 after buying an additional 335,429 shares in the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IONQ shares. Oppenheimer started coverage on shares of IonQ in a report on Wednesday, July 30th. They issued an “outperform” rating on the stock. DA Davidson downgraded shares of IonQ from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research note on Thursday, August 7th. Sanford C. Bernstein assumed coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued a “market perform” rating on the stock. Rosenblatt Securities assumed coverage on shares of IonQ in a research note on Tuesday, July 29th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of IonQ in a research note on Monday, August 4th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.00.

Insider Buying and Selling at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 216,000 shares of IonQ stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $38.11, for a total transaction of $8,231,760.00. Following the transaction, the chief financial officer directly owned 718,516 shares of the company’s stock, valued at approximately $27,382,644.76. This trade represents a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Peter Hume Chapman sold 3,581,193 shares of IonQ stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $38.13, for a total transaction of $136,550,889.09. Following the transaction, the insider directly owned 390,329 shares in the company, valued at $14,883,244.77. This trade represents a 90.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,209,626 shares of company stock valued at $361,253,723. 5.20% of the stock is owned by insiders.

IonQ Price Performance

Shares of IONQ opened at $41.20 on Thursday. IonQ, Inc. has a 1-year low of $6.54 and a 1-year high of $54.74. The firm’s 50 day simple moving average is $41.61 and its 200 day simple moving average is $34.38. The company has a market capitalization of $10.78 billion, a P/E ratio of -20.50 and a beta of 2.54.

IonQ (NYSE:IONQ) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.57). The business had revenue of $20.69 million for the quarter, compared to analysts’ expectations of $17.23 million. IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%. The company’s revenue was up 81.6% compared to the same quarter last year. During the same period last year, the business posted ($0.18) earnings per share. On average, equities analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

IonQ Company Profile

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace, as well as through its cloud service.